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Vincent Mulford Foundation
Vincent Strong Mulford established the Vincent Mulford Foundation in 1951. Mulford made his fortune as a publisher and investor, and the foundation initially...
Vincent Mulford Foundation
Vincent Strong Mulford established the Vincent Mulford Foundation in 1951. Mulford made his fortune as a publisher and investor, and the foundation initially focused on funding scholarships for first-year college students from Montclair-area high schools. Control later passed to his grandson, Christian R. Sonne, an investment banker who shaped the foundation's modern investment posture until his death. The foundation allocates capital across scholarship endowments and direct real estate development, with a distinct concentration in affordable housing. Its primary development vehicle, The Mulford Corporation, has completed multiple projects in partnership with the Yonkers Housing Authority. Completed assets include La Mora Senior Apartments and Willow at The Ridgeway, both in Yonkers, New York. The family also holds significant timberland and residential real estate directly: a forest property in Cameron, South Carolina; the Highland Forests tract in the Adirondack Mountains; and the Sonne family residence in Tuxedo Park, New York. The foundation operates with a lean governance structure, currently administered by co-trustee Madeline Grant — Mulford's daughter — and trustee Sally Sonne, widow of Christian R. Sonne. Peter Sonne, the next generation, manages the family's South Carolina forest property. Christian Sonne maintained deep institutional ties throughout his tenure, serving as Chairman of the American-Scandinavian Foundation and as an active member of the Tuxedo Park Association. The family also supports St. Mary's-in-Tuxedo Episcopal Church and maintains a trail maintenance fund for the Tuxedo Park community. The foundation's structure is unusual for a mid-sized endowment: it blends traditional grant-making scholarship programs with an operating real estate affiliate that executes direct development deals. This hybrid posture — part granting, part developing — creates a capital recycling mechanism rare among family foundations. With the passing of Christian Sonne, governance now rests with a second generation of family trustees managing a geographically concentrated portfolio of education grants and Hudson Valley-area real assets.
General information
Firm type
Endowment / Foundation
Year founded
1951
Location
Region
North America
Country
United States
City
Philadelphia
Corporate office
Philadelphia, PA, United States
Principals
Madeline Grant
Co-Trustee
Sally Sonne
Trustee
Peter Sonne
Family Member, Forest Property Manager
Sector focus
Frequently asked questions
How does the Vincent Mulford Foundation source its real estate development deals?
The foundation operates through The Mulford Corporation, which develops affordable housing in direct partnership with the Yonkers Housing Authority. Completed projects include La Mora Senior Apartments and Willow at The Ridgeway, both in Yonkers. This public-private partnership model gives the foundation a pipeline that is distinct from market-rate developers.
Who runs investment decisions at the foundation?
The foundation is governed by its trustees. Christian R. Sonne, grandson of founder Vincent Strong Mulford and a former investment banker at Goldman Sachs and Merrill Lynch, shaped the investment policy for decades before his death. Current trustees include Madeline Grant, the founder's daughter, and Sally Sonne.
Is the Mulford family wealth concentrated primarily in real estate?
Real estate is a significant component, with holdings spanning affordable housing in Yonkers, the Sonne family residence in Tuxedo Park, forest land in South Carolina, and the Highland Forests tract in the Adirondacks. The foundation also maintains a scholarship endowment. The original wealth derived from Vincent Strong Mulford's publishing and investing activities.
Does the foundation accept outside co-investors in its housing projects?
Partnerships appear structured around public entities rather than private co-investors. The foundation's recorded development activity has been executed alongside the Yonkers Housing Authority, suggesting a model based on municipal partnership rather than syndicated private capital.
What is the relationship between the foundation and the family's timberland holdings?
The South Carolina forest property and the Adirondack Highland Forests tract are held as family assets, managed by Peter Sonne. These appear to be direct family holdings rather than foundation program-related investments, forming part of the broader Mulford-Sonne family balance sheet.
Where does the underlying wealth come from?
The wealth originates with Vincent Strong Mulford, a publisher and investor. He established the foundation in 1951. His grandson Christian R. Sonne, who later managed the foundation, built his own career as an investment banker at Goldman Sachs and Merrill Lynch before dedicating himself to the family office and philanthropic activities.
What philanthropic causes does the foundation support beyond housing?
The foundation's original mission centered on awarding scholarships to first-year college students from Montclair-area high schools. The family also supports St. Mary's-in-Tuxedo Episcopal Church and maintains a trail maintenance fund in Tuxedo Park. Christian Sonne served as Chairman of the American-Scandinavian Foundation, reflecting additional philanthropic engagement.
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